Tommy O'Connelll Case Study

2333 WordsOct 10, 201210 Pages
1. Compare and contrast the professional roles of an audit senior and a staff accountant. In your analysis, consider the different responsibilities assigned to each role, the job-related stresses that individuals in the two roles face, and how each role contributes to the successful completion of an audit engagement. Which of these two roles is (a) more important and (b) more stressful? Defend your choices. An audit senior leads client audit engagements, which include planning, executing, directing, and completing the audit of the financial statements. The following are some of the professional roles of an audit senior on an engagement: • Researching and analyzing financial statement and audit related issues. • Acquiring a working…show more content…
3. Again, assume that you are Tommy. Carl is badgering you for something to do midway through the Altamesa job. You suspect that he is not completing all of his assigned procedures, but at the time you are wrestling with an important accounting issue facing the client. What would you do at this point? What could you do to confirm your suspicions that Carl is not completing his assignments? Carl completed assignment that allotted 100 hours in 60 hours. In the previous year, 110 hours had been required to complete the exact same task. This fact will raise a red flag for me indicating that Carl is not doing his job with diligence and due professional care. I believe that giving more work to Carl at this point will not contribute to success of the audit engagement. Hence, I would wait until further decision is made about Carl's negligence after discussion with Jack Morrison. In order to collect evidence of Carl's negligence, I would first contact the two senior auditors who have supervised Carl. They also suspected that he had not completed all of his assigned audit procedures. I would ask those two senior auditors for an advice on what I should do about this situation I am facing. I would also try to find out if they have any evidence that Carl wasn't doing his job. The main question I would ask the senior auditor is whether they kept record of amount of time Carl spent on each assignment in comparison to allotted time for same job done by other

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